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SSAB's Acquisition of Ipsco Signals
Vulnerability of U.S. Steel Companies

By

Paul Glader

Updated May 4, 2007 12:01 a.m. ET

A $7.66 billion deal that puts U.S. steelmaker Ipsco Inc. in the hands of a Swedish company shows how the strong euro, high European steel prices and lower stock values have made North American steelmakers vulnerable to foreign companies eager to gain access to the U.S. market.

In its first foray outside of Sweden, SSAB Svenskt Stal AB of Stockholm announced an agreement to buy Ipsco, Lisle, Ill., for $160 a share, boosting the Swedish niche player's presence in North America. Shares of Ipsco rose 5.8%, or $8.64, to $157.19...